Riyadh – Public Investment Fund signs $51 billion MoUs with Japanese financial institutions
RIYADH — The Public Investment Fund (PIF) made a groundbreaking announcement on Thursday, revealing the signing of five memorandums of understanding (MoUs) valued at an impressive $51 billion with some of Japan’s most prominent financial institutions.
The MoUs were inked with Mizuho Bank, Sumitomo Mitsui Financial Group, MUFG Bank, Japan Bank for International Cooperation (JBIC), and Nippon Export and Investment Insurance (NEXI), solidifying a significant financial partnership.
This strategic move by PIF is aimed at boosting global financial collaboration, with a focus on enhancing cooperation in the areas of finance, investment, and sustainable development. The ultimate goal is to facilitate capital flows in both debt and equity channels, fostering a mutually beneficial relationship.
Rasees AlSaud, Head of Financial Institutions and Investor Relations at PIF, emphasized the importance of these agreements, stating, “The MoUs are a testament to PIF’s strong and growing relationships with top international financial institutions. This collaboration highlights PIF’s dedication to nurturing partnerships for long-term success.”
These MoUs encompass not only PIF and its portfolio companies but also Japanese corporations and financial entities, further strengthening the economic ties between Saudi Arabia and Japan, paving the way for future collaboration and growth. — SG
